Automated Securities Lending principal (ASL principal)

ASL principal combines the efficiency of the ASL service with the simplicity and security associated with a principal structure with Clearstream Banking S.A. acting as sole counterparty.

Covering both T2S and Clearstream’s ICSD settlement, ASL principal represents a unique opportunity for customers to prevent liquidity shortage situations on their accounts and to smoothen their settlement regardless of the location thanks to an extensive pool of liquidity.

The ASL principal service complements Clearstream’s existing ASL product by offering cross-locational coverage and a principal structure. It can also be used in combination with ASLplus services for strategic and longer-term securities lending activities in the ICSD.

As with ASL, lenders benefit from waived custody fees on lent positions. Customers also benefit from Clearstream’s integrated collateral management that can automatically optimises the allocation of their liquidity across locations and across Triparty Collateral Management activities handled by Clearstream International.